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Beringea invests in PolyTherics

Beringea, manager of the ProVen VCTs, has invested GBP750,000 into PolyTherics Limited, a solution provider to biopharmaceutical companies, for the improvement of protein and peptide based drugs, alongside existing investors Imperial Innovation and The Capital Fund.

 

The total round was GBP2.15 million. The funds will be used to apply the company’s proprietary polymer-protein conjugation technologies to an expanding range of proteins and peptides and to pursue new applications of these technologies.

Commenting on the deal, Stephane Mery, Beringea Investment Director, says: “PolyTherics Limited is one of the leaders in the biopharmaceutical industry and this is an exciting opportunity to be involved in the development and growth of this business”.

Commenting on the funding, John Burt, Chief Executive Officer of PolyTherics, says: “Having recently taken up the reins at PolyTherics, I am delighted to have successfully completed this fundraising to provide a platform for the company’s further growth. Applying our linker chemistry to novel biomolecules at an early stage can improve their properties so development can proceed with greater confidence that their biological properties will translate into therapeutic benefit.”

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